|
2� 17� 1425
<br /> DEED �F TRUST
<br /> ��ontirluedj Page 4
<br /> participation.
<br /> Applicatian af Net Proceeds. �f ai!or any part of the Prvper�y is �nndemned by eminen#domain proceedings or hy
<br /> any praceeding ar purchase in lieu of candemnation. Len�e�may at its election require that all�r any portion of the
<br /> net proceeds ❑f the award be applied to the Indebtedness or the repai� or restorativn of the Prvperty. The net
<br /> proceeds of the award shall mean the award after paym�nt of ali reasonable costs, exp�nses, and attorneys' fess
<br /> incurred by Trustee vr Lender in�onn�ction with the condemnation.
<br /> IMPQSlTI�N DF TAXES. FEES AND CHAR�ES BY C�VERNIIAENTAL AUTHDRITIES. The fallowing pra�isivns reiating
<br /> to go�ernmental taxes, fees and charges are a part of this Deed of Trust:
<br /> Current Taxes, Fees and Charges. Upvn requsst by Lender, Trustor shall execute such documents in additi�n to
<br /> this Deed a�Trust and take wha�e�er❑ther act�vn is requested by L�nder to perfect and continue Lender's lien on
<br /> the Rea� Property. Trus#ar shall reimburse Lender for all taxes, as desc�ibed below� tagether with all expenses
<br /> incurrsd in re�ording, perfecting or cvntinuing this Deed of Trust, including with�u# limita#ion all taxes, �ees,
<br /> documentary stamps. and athe��ha�ges for recarding❑r registering this D�ed of Trus#.
<br /> Taxes. The �ollowing shall constitute taxes to which this section applies: �1} a specific tax upon this type vf
<br /> Deed of Trust�r upvn all or any part o� th� Indebtedness secured by this Deed �f Trust; �2� a specific tax on
<br /> Trustor which Trustor is autharized or required to deduct#rom payments an the Indebtedness secured by this type
<br /> of Deed vf Trust; �3y a tax�n this typs of Deed of Trust chargeable against the Lender or the holder�f the Note;
<br /> and �4y a specific tax an al� or any pvrtivn vf the Indebtedness or vn payments of principal and interest made by
<br /> Trus#or.
<br /> Subsequant Taxes. If any tax tv which this se�tion appiies is enacted subssqu�nt ta the date �f this ❑eed vf
<br /> Trust, this e�ent shall ha�e the same effect as an E�ent of Default, and Lender may exercise any or all of fts
<br /> a�aila�le remediss #ar an E�ent �f �efault as pro�ided beivw unless Trustor �ither �1 y pays the tax be#ore it
<br /> becames delinquent, or ��j c�nt�sts the tax as pra�ided abo�e in the Taxes and Liens sectian and deposits with
<br /> Lender cash vr a sufficient cvrporate surety bond or vther security satisfactvey to Lender.
<br /> SECURITY AGREEMENT; FINANCIN� STQTEAAENTS. The fvlfvwing pro�isions relating to this Deed vf Trust as a
<br /> security agreement are a part of this❑eed of Trust:
<br /> 5ecurity A9raement. This instrument shail constitute a Security Agreement to the extent any of the Property
<br /> cvnstitutes fixtures, and Lender shall ha�e all of the rights af a secured party under the Un�form Commercial Cade
<br /> as amended frvm time to time.
<br /> Sscurity Interest. Upon request by Lender. Trustvr shall take whate�er action is requested hy Lender to per�ect
<br /> and cantinue Lendsr's security interest in the Rents and Persanal Property. !n addition to recording this ❑sed vf
<br /> Trust in the real prvper#y records, Lender may, at any time and without further autharizativn frvm Trus#vr, file
<br /> executed counterparts. copies �r reproductivns of this Deed of Trust as a financEng statement. Trustor shall
<br /> reimburse Lender#or all expenses incurred in perfecting ar cantinuing this security interest. Upon default. Trustor
<br /> sha�� not remove, se�er or detach the Personal Prvperty from the Praperty. Llpon default, Trustor shall assembl�
<br /> any Personal Property no#affixed t❑the Property in a manner and at a pla�e reasonabfy con�enient to Trustor and
<br /> Lender and make it a�ailable to Lender within thr�� �3� days after receipt of written demand from Lender t� the
<br /> extent permitted by applicable law.
<br /> Addresses. The mailing addresses vf Trustor �debtarj �nd Lender �seCured partyy from which infvrmation
<br /> cancerning the security interest granted by this �eed of Trust may be obtained teach as required by the Uniform
<br /> Commercial Cod�y ar�as s#ated an the first page�f this Deed of Trus#.
<br /> FURTHER ASSURANCES: ATT�RNEY-IN-FACT. The foll�wing pro�isivns relating to further assurances and
<br /> attorney-in-fact are a par#of this Deed af Trust:
<br /> Further Assurances. At any time, and fram tEme to tim�� upon request af Lender, Trustor wil� mak�. execute and
<br /> deli�er,or wii�cause to b�made, exe�uted ar deli�ered, to Lender or to Lender's designse, and whsn requested by
<br /> Lender, cause to be filed, recorded, refiled, ar rerecvrded, as the �ase may t�e, at such #imes and in such offices
<br /> and places as Lender may d�em appropriate, any and all such mvrtga�ges, deeds of trust, security deeds. security
<br /> agreements, financing statements, continuatian statements. instruments of further assu�ance, certif�cates. and
<br /> vther documents as may, in the sale opinion of Lender, be necessary or desirable in order t❑ effectuate, camplete,
<br /> per#e�t, continue, or preser�e t 1 y Trustor's obi�gations und�r the Note, this ❑eed of Trust, and the Relat�d
<br /> Documents, and t2f the liens and secur�ty interests crea#sd by this Deed of Trust as first and prior liens on the
<br /> Prop�rty, whether now �wned or hereafter acquired by Trustvr. LJnless prohibited by law vr Lender agrees to the
<br /> cantrary in writing, Trustor shall reimburse Lender for alf costs and expenses incurred in �onnectinn with the
<br /> matters referred ta in this paragraph.
<br /> Attorney-in-Fect. If Trustar#ails t❑do any a#the th�ngs r�ferrsd to in the preceding paragraph, Lsnder may do s�
<br /> fvr and in the name of Trustvr and at Trustor's expense. For such purpases� Trustor hereby irre�ocahly appoints
<br /> Lender as Trustor`s attvrney-in-fact f�r th� purpose of making. executing, deli��rEng, filing, recording, and doing all
<br /> vther things as may be necessary vr desirahle, in Lender's soie opinian, to accomplish the matters referred to in
<br /> the preceding paragraph.
<br /> FULL PERF�RIVIANCE. If Trustor pays all #he Indebtedness, �nciuding without limitation all future ad�ances, when due,
<br /> and otherwise perfarms all the obligativns impvsed upan Trustor under this Deed of Trus�, Lender sha�� execute and
<br /> deEi�er #o Trustee a requ�st for full recon�eyance and shall execute and deli�er to Trustar sui#abie statements of
<br /> termina#ian of any financing statement on file �►►idencing Lender's security interest in the Ren#s and the Personal
<br /> Property. Any recon�eyance fee required by law shall be paid by Trustor, if permitted by applicable law.
<br /> EVENTS �F �EFAULT. Each of the fol�owing, at Lender's option, shall constitute an E�ent of Default under this Deed
<br /> of Trust:
<br /> Paymsnt Default. Trustvr fails to make any payment when due under the Indebtedness.
<br /> Dther Defeults. Trustor fails to comply with or to psrform any vther term, vbligativn, co�enant or candition
<br /> cantained in this Deed of Trust ❑r in any of the Re�ated Docum�nts or �o comply with or to perfvrm any term,
<br /> abligation, co�enant vr condition cvntained in any other agreement between Lender and Trustor.
<br /> Compliance Default. Failure to camply with any ather term� ob�igation, cv�enant vr condition �ontained in this
<br /> Deed of Trust.the Note ar in any af the Reiated Dvcuments.
<br /> Dafault on�ther Payments. Failure of Trustor within the trme required by this Deed of Trust to make any payment
<br /> far taxes or insuran�e, or any ath�r payment necessary to pre�ent filing o�or to effect discharge of any lien.
<br /> Defau#t in Fa►►vr of Third Parties. 5h�uld Grantor default under any Ioan, extension �f credit, security agreement,
<br /> purchase or sales agreement, or any other agreement. in fa�or of any othe� creditvr vr person that may materiaily
<br /> affect any vf Grantvr's property vr Grantar's abilEty to repay #he Indehtedness or Grant�r's ability to per�orm
<br /> Grantor`s obligations under this ❑eed o#Trust or any vf the Related D�cuments.
<br /> False Stetamants. Any warran#y, representativn or statement made or furnished t❑ Lender by Trustor or vn
<br /> Trustor's behaff under th�s Deed af Trust❑r the Related Documents is false ❑r misleading in any material r�spect.
<br /> either now or at the time made or furnished or hecames false or misleading at any time thereafter.
<br />
|